3 Diamonds and a Dog #3

In each post of the Money Counselor “Diamonds & Dogs” series, I pick three items—could be an article, a website, a video, an image—that in my humble opinion would be especially valuable—the Diamonds—in helping Money Counselor readers make better money choices. And to balance the three Diamonds, I pick just one lame item—the Dog.

A Dog

American Credit Repair As I’ve written about before, “credit repair” is a rip-off. Everything this company (and thousands like it) offers for hefty fees with respect to disputing credit report entries, consumers can easily do themselves for free. (See the FTC’s “Credit Repair: How to Help Yourself“.) This particular company charges $2,495, apparently to help its customers obtain a mortgage loan, though it’s not easy (unsurprisingly) to divine from the company’s website the exact services and results for which this huge fee pays. Before you spend scarce resources on a grossly overpriced service like this, spend a few hours cruising the many excellent—and free—personal finance blogs on the Web, including this one. And if you’re looking for a mortgage loan, talk to a mortgage lender or broker—for free!—about what you need to do to qualify. And yes, definitely make sure your credit report is accurate. It’s really easy to do!

Nominations Please

Do you have a nomination for a Diamond or Dog? Send it to me please using the Free Advice link at the top of the page. I’ll give you credit if I use it in a “3 Diamonds and a Dog” post.

Tweeters of the world, unite!

Best Way to Repay Debt

I recommend the nonprofit, registered charitable organization Consolidated Credit Counselling Services of Canada for help to Canadians with budgeting and repaying debt. For a free review of your situation, call 1-844-257-5848 or visit this website.